Termination by Act of the Parties & Termination by Operation of Law

Termination by Act of the Parties

ü  Lapse of Time.

ü  Purpose Achieved.

ü  Occurrence of a Specific Event.

ü  Mutual Agreement.

ü  Termination by One Party.

ü  Notice of Termination.

Termination by Operation of Law

ü  Death or Insanity of either Principal or Agent: automatic.

ü  Impossibility.

ü  Changed Circumstances.

ü  Bankruptcy.

ü  War.